Before their recent surgeon gold regaining $1600, the gold stocks spent much of the past half-year or solargely drifting sideways to lower. Thathigh consolidation really weighed on sentiment, with greed giving way to apathy. This sector normally tends to suffer aseasonal slump into mid-March, paving the way for gold stocks’ spring rally. That’s their second-strongest...Read More
With new cases of COVID-19 outside China rising, the chances of a pandemic and global recession have increased recently. What are the implications for the gold market?Coronavirus Spreads Over the WorldUnfortunately, the new coronavirus remains the hottest topic of the news. Although the COVID-19 epidemic has been slowing down in China since the beginning of February, it has quickly spread to sever...Read More
In December, the Sveriges Riksbank, the world’s oldest central bank, has raised the main interest rate from -0.25 percent back to zero, ending its experiment with the negative interest rate policy, as the chart below shows.Chart 1: Riksbank’s repo rate from January 2010 to January 2020. This is a huge change. As a reminder, Riksbank was a pioneer of negative interest rates. As early as...Read More
Gold and stocks are moving south together; but they are not correlated. Nor, are they inversely correlated, as some gold enthusiasts claim.Reference to gold as a safe haven has some investors buying gold to hedge against a stock market crash. It is almost as if gold has become a pseudo defensive stock.It seems investors actually expect gold’s price to go up when the stock market goes down; a...Read More
Here are five Fastmarkets stories you might have missed on Friday February 28 that are worth another look.The steel export trade from Iran has been hurt by neighboring countries closing their borders due to the appearance of coronavirus infection in the Middle Eastern country, Fastmarkets learnt on February 28.The global novel coronavirus (2019-nCoV) outbreak is putting bearish pressure on negotia...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended Feb-28, 2020$BTG $KOR.TO $EDV.TO $GCM.TO $MAG $SKE.V $AUY B2Gold: The company finished 2019 very strong and had a record 2019. Production for the full year totaled 980k oz. Au. In 2020, production is forecast at 1m-1.055m oz. Q4 2019 all-in sustaining costs (AISC) came in at $882/oz. and cash flow from operations totaled...Read More
Gary SavageIf you are going to trade precious metals then you MUST accept that you are fighting a battle with the bullion banks and the rules and the law simply do not apply to them. First big warning sign, miners were being suppressed. Why? The bullion banks were heavily short gold that they can't keep adding more shorts. The gold cartel therefore began shorting gold stocks and silver..http://b...Read More
Clive MaundThis article was conceived as a "souvenir article" to assist those of you who did the trade - and I know from feedback that a significant number of you did - in gloating at its glorious success - but here's the thing, working on it turned up some valuable insights that we can turn to our advantage in the immediate future. You will soon see what I mean.As Friday wore on I became more a...Read More
David HaggithIt just can't get bad enough, and I can 't write fast enough. The headlines at the end of the week are now stunning, so I'm going to share several of them along with some quotations from the bawling and dying market bulls. In just one week, this has become the fastest stock market plunge since the Great Depression! So, if you have a bull you love, save his bullish butt by nailing...Read More
Greg Weldon: Could Get Worse for Markets But It's a Gold/Silver Buying OpportunityWelcome to this week's Market Wrap Podcast, I'm Mike Gleason.Coming up Greg Weldon of Weldon Financial joins me for another tremendous interview where he breaks down the market fallout still ahead of us as a result of the coronavirus, why gold and silver won't be immune to the selloff that will continue to take pla...Read More
Y2K ReduxSupply Chains UnlinkedFed FutilitySome Silver LiningsHow to Find the Opportunity I See EverywhereFor the last 3+ years, I have maintained it would take an "exogenous" event to send the United States into recession. Historically suboptimal growth? Sure, but sub-3% growth isn't a recession.The coronavirus obviously qualifies as an exogenous event. But that doesn't mean a textbook two-quar...Read More
Here are five Fastmarkets stories you might have missed on Friday February 28 that are worth another look.The steel export trade from Iran has been hurt by neighboring countries closing their borders due to the appearance of coronavirus infection in the Middle Eastern country, Fastmarkets learnt on February 28.The global novel coronavirus (2019-nCoV) outbreak is putting bearish pressure on negotia...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended Feb-28, 2020$BTG $KOR.TO $EDV.TO $GCM.TO $MAG $SKE.V $AUY B2Gold: The company finished 2019 very strong and had a record 2019. Production for the full year totaled 980k oz. Au. In 2020, production is forecast at 1m-1.055m oz. Q4 2019 all-in sustaining costs (AISC) came in at $882/oz. and cash flow from operations totaled $1...Read More
RAPAPORT... Marvin Heyman, president of jewelry manufacturer and brand Oscar Heyman & Brothers for 14 years, died on February 23 at the age of 89.Heyman began his career with the family-run firm started by his uncle in 1953, working as a bench jeweler in the shop as well as in the company's diamond office. After 10 years, he moved to the workshop alongside his father, Harry Heyman, becomi...Read More
RAPAPORT... Borsheims has promoted Jaci Stuifbergen to marketing manager. She will oversee the company's marketing strategies, programs and campaigns.Stuifbergen, who started at the Berkshire Hathaway-owned business in 2012, was promoted to senior marketing and event specialist in 2018. In her new role, she will be responsible for guiding the store's print and catalog production, digital adve...Read More
RAPAPORT... De Beers plans to split sightholders into three categories and offer each group a more bespoke selection of rough diamonds as part of changes to its sales system.Manufacturers, dealers and retailers will sign specific supply contracts designed for the "broad needs" of each business model, a De Beers spokesperson told Rapaport News Thursday.The arrangement will take effect in Janua...Read More
RAPAPORT... Baselworld has called off this year's fair after Swiss authorities banned large-scale events because of the coronavirus.Show organizer MCH Group has postponed the event - which had been scheduled to take place April 30 to May 5 in Basel, Switzerland - to January 28 to February 2, 2021, it said Friday. From then on, the fair will take place at the beginning of each year, in accorda...Read More
(IDEX Online) - Russia's deputy finance minister Alexey Moiseev says he's working on a "road map" towards lifting a ban on rough diamond exports from parts of the Central African Republic (CAR). Exports have been allowed from some parts of the poverty-stricken country, labelled green areas, since a total ban was lifted in 2013. But sales of "conflict diamonds" from so-called "red areas",...Read More
(IDEX Online) - Prices remained fairly stable in January, with the range of mixed but minor changes that have become a theme in recent months. There was isolated or limited movement in some categories of round and fancy, but a standstill in most.Larger rounds (1.50-2.99 ct) saw modest increases of up to 3 per cent and pointers (0.18 to 0.29 ct) were up in some categories around 5 per cent. Ha...Read More
(IDEX Online) - De Beers is reportedly set to update its terms with sightholders, in response to a disastrous year for the diamond industry in 2019. The 80 or so sightholders will be divided into dealers, manufacturers and integrated retailers, according to reports by Bloomberg and Reuters. As a result, they'll get stones better suited to their needs. Buyers currently have no choice but to ac...Read More